By Chris Thomas and Nupur Anand MUMBAI (Reuters) -Indian private lender Axis Bank has decided to bulk up its credit card and retail businesses with a $1.6-billion purchase of Citigroup Inc’s local consumer banking arm. The deal announced https://www.bseindia.com/xml-data/corpfiling/AttachLive/83190dcd-4ae6-45f4-b3fa-8d39d91a4aa6.pdf on Wednesday is Axis Bank’s largest by far and would expand its credit card customer base…
(Reuters) – The war in Ukraine has added to inflationary pressure in the U.S. but so far does not appear to have influenced demand for goods and services, Richmond Fed president Thomas Barkin said Wednesday. “I have not yet seen the drop in demand” for goods and services because of the recent spike in energy…
SAN FRANCISCO (AP) — Waymo’s self-driving ride-hailing service is branching out to San Francisco. The autonomous vehicle unit of Alphabet, Google’s parent company, said Wednesday that it started carrying employees in electric Jaguar I-Pace SUVs without human backup drivers. Previously the company had been testing the vehicles with a safety driver behind the wheel just…
BEIJING (Reuters) – China’s three biggest airlines on Wednesday reported wider losses in the final quarter of 2021, marking the second year in the red due to COVID-19 as hopes for a recovery remain distant while the country tries to halt the virus’ fast spread. Shanghai-based China Eastern Airlines said its net loss rose to…
By Foo Yun Chee BRUSSELS (Reuters) -Air France-KLM and its Dutch subsidiary KLM on Wednesday lost their challenge against million-euro fines re-imposed by EU antitrust regulators five years ago for taking part in an air cargo cartel two decades ago. Air France KLM said it was considering appeal against the decision. Air France and 10…
BUDAPEST, Hungary (AP) — Hungary’s foreign minister on Wednesday accused Ukraine’s leadership of attempting to interfere in the upcoming Hungarian election, a charge later denied by his Ukrainian counterpart in an episode that put further strain on relations between the two countries. In a video on social media, Hungarian Foreign Minister Peter Szijjarto claimed that…
(Reuters) – Wall Street’s main indexes opened lower on Wednesday, as optimism around Ukraine-Russia peace talks waned and investors fretted over the prospect of rapid rise in interest rates hurting economic growth. The Dow Jones Industrial Average fell 20.6 points, or 0.06%, at the open to 35,273.63. The S&P 500 fell 7.4 points, or 0.16%,…
NICOSIA, Cyprus (AP) — No data currently suggests Europe will fall into stagflation, a combination of high inflation, little or no economic growth and high unemployment, the European Central Bank ‘s president said Wednesday. Christine Lagarde said at a Bank of Cyprus conference in the Cypriot capital that at this time, “we don’t have the…
By Katanga Johnson WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday issued new guidance to broker dealers and investment advisors on how to satisfy their obligations to retail investors and comply with agency rules when recommending investment products. The guidance clarifies brokers’ and advisors’ obligations under the SEC’s long-standing Investment Advisor…
(Reuters) – CVS Health Corp said on Wednesday it had entered into an agreement with the state of Florida to resolve claims related toprescriptions for opioid medications for $484 million to be paid over a period of 18 years. As a result of the agreement, CVS Pharmacy will no longer be a defendant in Florida’s…
